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Still a few of us still positive . No denying current SP extremely disappointing ( Many here voice their displeasure fair enough – others naysayers delight )
Market cap value has actually risen since placing . !
SP was approx. 3.8p at time of placing - completed at 5.2 p . (a premium of 26.83 % to the prevailing share price on 16 July 2019, ) Market cap then was approx. £ 9.2 M ;Today market cap £13m - O /.S 397m inclusive of ISA /Placement shares
ISA still early days as first month not completed yet , certain restrictions in place , worst possible scenario AAOG still get 75% if sells below benchmark price 5. 8 p ( does still provide extra cash into AAOG coffers & could still deliver a premium over next 12 months ) .
Guess you either believe in AAOG plan for Djeno ( or not ) - preparation work for sidetrack already underway
However if you see the AAOG bigger picture , chances for significant investment return still very achievable - at the moment grin & bear it .
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Good luck AAOG team & shareholders
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“The structure itself is designed to remove any incentive on the Investors to lower the price per Ordinary Share. Essentially, the Investors are "long" of the Ordinary Shares and sell them in order to return the proceeds to the Company while making a return through the fact that the benchmark price is above the Issue Price. “
“Notwithstanding the above, the Company believes that the current price of the Ordinary Shares significantly undervalues the Company and its prospects, given the discovery of oil in each target horizon of the TLP-103C well. Accordingly, the Company is hopeful that the market price of the Ordinary Shares will readjust to reflect this discovery and that the Company will be able to share in this uplift where the One Month VWAP is above the Benchmark Price (in which instance the Company will receive an increased Monthly Settlement amount).”
“The Investors have covenanted with the Company to use their best endeavours to dispose of at least 4,555,459 Ordinary Shares (the "Minimum Monthly Shares"), being 50% of the Assumed Monthly Traded Shares, in each month.
Equally, the Investors have covenanted that each Monthly Settlement shall be an amount equal to at least 75% of the value received by the Investors from the sale of the Ordinary Shares it undertakes in the month prior to the Monthly Settlement. “
Maybe it has to wait to see the days volume, before determining its 19.99% sell ?
It's the funding sell which is going to happen for ages and keep dragging the price down. What a cr*p deal that was !!
There’s the sell again